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PROCESS FLOW OF XYZ SERVICES LTD


ACCOUNTS PAYABLE

Receive invoice

from vendor

Verify invoice against


purchase order

& goods receipt

Approve invoice
Post invoice


in ERP system

Process payment


(bank transfer, cheque,)

Maintain records for


audit & compliance

ACCOUNTS RECEIVABLE
Generate and send


customer invoices

Record receivables


in ERP system

Track due-dates


and outstanding balances

Receive customer


payments

(bank transfer, cheque,)

Apply payments


to customer accounts

Follow up on overdue


accounts

RECORD-TO-REPORT

Record all AP & AR


transactions

Post journal entries


(adjustments, accruals, provisions)

Consolidate financial


data

Generate trial


balance

Prepare financial


statements (P&L,

Balance Sheet, Cash F-)

mba

by siva

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